Key Factors
- Positioned in Mostakbal Metropolis, the posh growth is about to generate EGP64 billion ($1.32 billion) in gross sales.
- “Butterfly” options Mediterranean-inspired structure, inexperienced areas, water parts, and goals to mix luxurious with eco-friendly residing.
- Madinet Masr’s internet earnings surged 149.4% to EGP 1.45 billion ($29.54 million) in H1 2024, with revenues up 95.8% year-over-year.
Madinet Masr, an actual property developer led by Egyptian magnate Abdallah Sallam, has introduced the launch of its newest luxurious venture, “Butterfly,” situated in Mostakbal Metropolis. This new growth, via the corporate’s unit, Minka Improvement, is about to revolutionize the posh actual property market with its emphasis on modern design and sustainable residing.
The Butterfly venture, masking 187 feddans alongside Al-Amal Axis, is about to generate EGP 64 billion ($1.32 billion) in gross sales. Developed by Madinet Masr, the venture goals to mix luxurious with sustainability. Positioned close to key areas just like the New Administrative Capital, Shorouk, and New Heliopolis, Butterfly affords comfort and high-end residing with added security measures.
Butterfly venture lends luxurious and inexperienced
Impressed by Mediterranean structure, the event consists of S Villas (238 sqm), townhouses (245-256 sqm), and standalone villas (175-240 sqm). It options inexperienced areas and water parts, enhancing its tranquil setting. The design mimics butterfly wings, incorporating intensive inexperienced areas and water options. A significant industrial space with a 729-meter frontage on Al-Amal Axis will present upscale purchasing and eating.
Abdallah Sallam, President and CEO of Madinet Masr, emphasised, “The Butterfly venture is a big milestone in our growth plans and represents our first funding in Mostakbal Metropolis. Our purpose is to merge luxurious with sustainability, using eco-friendly supplies and superior applied sciences to reduce power and water consumption.”
Firm development and strategic partnerships
Since its institution in 1959, Madinet Masr has advanced from an actual property entity centered on Nasr Metropolis to a diversified chief within the Egyptian actual property market below Abdallah Sallam’s management. Sallam, who owns a 5 p.c stake, additionally based Minka Improvement, integral to the corporate’s operations.
Below Sallam, Madinet Masr has achieved vital monetary development. Within the first half of 2024, internet earnings soared 149.4 p.c to EGP1.45 billion ($29.54 million), up from EGP584.7 million ($11.91 million) a 12 months earlier. Revenues surged 95.8 p.c year-over-year to EGP4.3 billion ($87.57 million).
Madinet Masr additionally not too long ago signed a $13 million Memorandum of Understanding with Good Development and Improvement (SCAD) for the Sarai venture in New Cairo, reinforcing its place within the regional actual property market.
